The Young Americans Bank (YAB) is an American

bank A bank is a financial institution that accepts deposits from the public and creates a demand deposit while simultaneously making loans. Lending activities can be directly performed by the bank or indirectly through capital markets. Because ...

specifically set up for young people under the age of 22. Although designed to teach children and young people how to manage money, Young Americans Bank is a full for-profit,

Federal Deposit Insurance Corporation The Federal Deposit Insurance Corporation (FDIC) is one of two agencies that supply deposit insurance to depositors in American depository institutions, the other being the National Credit Union Administration, which regulates and insures cred ...

-insured financial institution. As a full service bank, YAB offers, among other financial products,

savings account A savings account is a bank account at a retail bank. Common features include a limited number of withdrawals, a lack of cheque and linked debit card facilities, limited transfer options and the inability to be overdrawn. Traditionally, transac ...

loans In finance, a loan is the lending of money by one or more individuals, organizations, or other entities to other individuals, organizations, etc. The recipient (i.e., the borrower) incurs a debt and is usually liable to pay interest on that de ...

checking account A transaction account, also called a checking account, chequing account, current account, demand deposit Demand deposits or checkbook money are funds held in demand accounts in commercial banks. These account balances are usually considered m ...

certificates of deposit A certificate of deposit (CD) is a time deposit, a financial product commonly sold by banks, thrift institutions, and credit unions in the United States. CDs differ from savings accounts in that the CD has a specific, fixed term (often one, th ...

(CDs), and credit card accounts.

History

Young Americans was set up in 1987 by

Bill Daniels Robert William Daniels Jr. (July 1, 1920 – March 7, 2000) was an American cable television executive and owner of professional sports teams. He was a pioneer in building the cable television industry and was known as the "father of cable televi ...

, an American cable television executive, after a group of elementary students in

Denver, Colorado Denver () is a consolidated city and county, the capital, and most populous city of the U.S. state of Colorado. Its population was 715,522 at the 2020 census, a 19.22% increase since 2010. It is the 19th-most populous city in the Unit ...

were denied a loan from other banks for a school project. Young Americans Bank is housed under Young Americans Center for Financial Education, a 501(c)3

non-profit A nonprofit organization (NPO) or non-profit organisation, also known as a non-business entity, not-for-profit organization, or nonprofit institution, is a legal entity organized and operated for a collective, public or social benefit, in co ...

that organizes programs such as Young AmeriTowne, International Towne, Get a Head for Business, and summer camps.

References

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External links

Young Americans Website
Banks based in Colorado Companies based in Denver Banks established in 1987